The Indians Abroad

Overseas Living: NRIs & India abroad

Posts Tagged return-to-india

Facilities on overseas assets for Indians returning to India

Mar 14

Posted by admin in Banking, Consciousness & Awareness, Non-Resident Indian, india abroad

R2I facilities on overseas assets for Indians returning to India

Here are some key highlights of the Indian facilities related to overseas assets and financial situations for Indians returning to India:

Retaining assets abroad:

  • Effective 17th July, 1992, the Indian Central Government has granted exemption from the surrender requirement to persons who return to India after a continuous stay abroad of one year and above in respect of funds/assets acquired by them abroad otherwise than in contravention of FERA 1973 or out of foreign exchange earned through employment, business or vocation outside India taken up or commenced while they were resident outside India. Persons satisfying the conditions of general exemption can retain their foreign currency accounts within bank abroad and/or hold, transfer or dispose of their other foreign currency assets such as shares, securities or investments in business, etc. and immovable properties.
  • They are not required to obtain any permission from Reserve Bank for holding these assets.
  • They would enjoy complete freedom for utilization of these assets as well as income earned or sale proceeds received subsequently.

    • Read the rest of this entry »

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R2I Surprises await the returning NRIs

Feb 5

Posted by admin in Culture & Society, India, Non-Resident Indian, india abroad

Everyone abroad talks about r2i – returning to India. Sooner or later, every Indian settled overseas considers returning home. Regardless how much you plan and how much you look forward to it, the real life experience always brings its own surprises – good and bad ones.

Most of the NRIs romanticize about the life in India. However, those returning to India have their own complaints about life back home:

Traffic: After living in American or Europe for a long time, we get used to the smooth flow of traffic and the traffic rules. Don’t expect the same after r2i. There are just way too many cars and bikes on the road, compared to what we are used to abroad. And remember, the more aggressive drivers make their own traffic rules, most of the time.
Not the same old neighborhood: I wrote a full article on this recently, the home we left behind many years ago is not the same, neither is the neighborhood.

Kids hate it: many parents return to India to raise their kids in Indian culture speaking Indian language. However, the whole experience is very hard on kids. The language, the new place, the new surroundings, the power cuts, the crowd….the whole thing overwhelms them. They like India for vacationing, but forget the permanent living part.

Faded bonds of Family and friends: Many of us return home to be with family and old friends. However, once you go back, it does not feel like the good old days. Everybody is on a different wavelength; they have their own lives to live. Read the rest of this entry »

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NRIs’ misplaced nostalgia of good old days

Feb 1

Posted by admin in Culture & Society, India, Non-Resident Indian, india abroad

If you listen to the first generation of Indian Americans abroad – especially those who migrated long time ago – they paint a very bright and picture of their past memories of India:

“Those were different days – happier times. We never cared much about anything – anything but friendship and good company. The schools were parties – a meeting place where all the good and bad schemes were hatched…”

“All summer we played cards under the big shade tree next to the pond….And, when we got bored of cards, we played marbles, or took a nap on a cot. No air-conditioners could compete with the monsoon soaked eastern breeze of summer days. Those were the days….!”

The first generation of immigrants misses the homeland of India more than anything. In most of the week-end parties or social gatherings, talking about good old day is one of the common topics. The nostalgic discussion intensifies after a few drinks. The memories of childhood, the growing up, the friends back home, the food, the aimless wandering…well, there is no end to the journey down the memory lane, the memories of past left behind..

Yearning for the past is a human nature. We always cling to the memories of yesterdays. Regardless where we live, the nostalgia is nothing more than trying to hold on to the past. The past is not easy to let go, even though we all talk about moving on. Living abroad just adds one more dimension to all this – the living in the past. Read the rest of this entry »

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Why do NRIs return to India?

Jan 15

Posted by admin in Culture & Society, India, Non-Resident Indian, india abroad

Main R2I (Return-to-India) reasons for NRIs abroad

Over the years, a reverse trend is starting to take shape. More and more overseas NRIs are returning home, and others are considering the option. The reasons for R2I – return to India – vary from personal to business to emotional; some of the main ones are:

More job opportunities in a booming Indian economy: As Indian economy keeps on growing, year after year; there are more opportunities available in India compared to old days. The IT field continues to expand, creating demand for international professionals. The economic revolution that started in 1991 has reformed India into one of the major players on the world stage.

Slow down in America and other developed countries: The global markets are going through some of the worse economic recessions of all times. The unemployment in USA is at its highest in many decades. The bleak outlook in job markets and uncertain future abroad is one of the reasons for many immigrants to consider returning home.

Going back ‘Home’:The sense of belonging makes a big difference when deciding on the future path. It feels good to be back and going back to the roots - being a part of our own culture, our own society is a major psychological boost. Read the rest of this entry »

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Paradigm of a promise- NRIs’ promise to return to India!

May 2

Posted by admin in Culture & Society, India, Non-Resident Indian, india abroad

NRIs Abroad – An unfulfilled promise to go back to back to India

“So when are you coming back?” is a common question that everyone asks when you are getting ready to leave India to go abroad. Some ask it because they want to know your answer; others ask it because this is the common question for the time of departure. Without thinking for a second, the answer always is, “I shall be back soon, back for good in a few years.”
This is how the departure is justified; confirming that it is temporary, confirming that he or she will be back. This is not out of nowhere, the response is generally based on a promise that every NRI makes, the promise to go back home one day. This is not my promise or your promise, this is a promise that most of us make to ourselves when leaving India.  This is the promise that makes the circumstances of family separation tolerable. Read the rest of this entry »

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